29 May 2012

Finance, Accounting & Banking

 



Someone's not getting the point

According to the Government Communication and Information System (GCIS), the SA government was "appalled and disappointed" that e.tv censored visuals showing Advocate Gcina Malindi breaking down in tears during the South Gauteng High Court proceedings relating to "The Spear" portrait. In its turn, eNews expressed its "grave concern" that GCIS would accuse the channel of bias and selective reporting.

Many people might agree that as filming court proceedings is not a given, and that as access is granted subject to certain restrictions, it makes perfect sense to not broadcast such potentially problematical clips until there is clarity from the judges. To go ahead when there is doubt as to whether permission will be granted or not is to jeopardise the filming of court proceedings in the future.

This should get the tongues wagging... Bobby Godsell says SA needs a UK-style high pay panel to check into executive pay - which he reckons is excessive and lacks transparency.

Blade to cut a swath through EC colleges? As we all know, education in the Eastern Cape, well... say no more. Hence, it's no surprise that Minister of Higher Education and Training Blade Nzimande has appointed a team to investigate maladministration and corruption at further education and training (FET) colleges in the Eastern Cape in an effort to clean them up.

Share and share alike... Despite a few murmurs some time back that sharing the Square Kilometre Array was not an option, it is. Sense prevailed - so it's a case of rather some of SKA, than nothing of SKA.

Finally, our resident motor head, Henrie Geyser gets passionate over the new red-blooded Alfa Romeo Giulietta TCT.

Rod Baker, content director

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Editorial news

Finance, Accounting & Banking


Financial institutions must keep abreast of changes - FAIS
Financial institutions need to ensure that they keep abreast of fast-changing legislative developments and are able to implement changes within the required time frames. Read more >>

Oikocredit to share its vision for Africa at forum
Oikocredit, a leading international micro-finance organisation, will present its vision for Africa's micro-finance sector at this year's Africa Finance & Investment Forum (AFIF2012), hosted by EMRC International and Rabobank. Read more >>

Accounting and Auditing


CIMA CBA test centres to increase to 27 in eight provinces
Two years ago CIMA (The Chartered Institute of Management Accountants) decided to migrate its global Certificate in Business Accounting computer-based assessments to the Pearson VUE platform. The migration will be completed by the end of June, 2012, and exam centres will be included in places such as Nelspruit and Upington. Read more >>

Credit Services


Standard Bank signs US$1.35bn term loan facility
The Standard Bank of South Africa Limited (SBSA) has signed a US$1.35 billion, 36-month term loan facility in London. The transaction was launched in an amount of US$750 million and an oversubscription of US$726 million was obtained, thus allowing for a final take of US$1.3 billion. Read more >>

Finance, Accounting and Banking


Media firms lobby JSE on results plan
[Trevor Neethling] Two of SA's leading media companies on Friday, 25 May 2012, said they planned to persuade the JSE not to implement proposed plans to revise rules for publishing results by listed companies, which they say could affect their advertising revenue. Read more >>

New JSE publishing rules could cripple newspapers
[Trevor Neethling] In a move that could cripple SA's financial print media‚ the JSE has announced proposals to change its publication rules for listed companies. Read more >>

SA needs UK-style high pay panel: Godsell
Business leader Bobby Godsell has suggested SA establish an independent commission into executive pay. He said it was excessive and lacked transparency. Read more >>

Investment Management


Interval International hosts investment conferences
Interval International, a prominent worldwide provider of vacation services and an operating business of Interval Leisure Group, will host Shared Ownership Investment Conferences on 26 June 2012 in Cape Town and 28 June in Sandton, Johannesburg. Interval created the conferences in 1998 to educate prospective entrants, lenders, and government officials about resort development opportunities around the globe. Read more >>

SA market stays positive compared to developed countries
Investors into South Africa appear to be ignoring most of the negative news flow around the globe, which has caused local markets to post positive returns at a time when developed markets continue on shaky ground. This is the conclusion from the assessments and analyses of the latest available economic data by wealth manager BoE Private Clients. Read more >>

Taxation


Individuals better than companies at paying tax
The low level of tax compliance by companies is "less than satisfactory" and compares unfavourably with individuals, whose compliance has shown dramatic improvement, says South African Revenue Service (SARS) head Oupa Magashule. Read more >>


Government
State was warned against e-tolls: report
The government was warned in 2010 that collection costs for the controversial e-toll system would be considerably higher than a petrol levy or tax, Beeld newspaper reported on Monday. Read more >>

Alarm raised over SA manufacturing
South Africans are living through "dangerous times", Finance Minister Pravin Gordhan told Parliament on Friday, saying it was "clear that investment is still held back by both global and domestic uncertainties". Read more >>

Gloom over water and electricity
This is according to the Manufacturing Circle, which recently released its 2012 first quarter Manufacturing Survey results. The survey featured 50 chief executive officers from a variety of manufacturing companies. Read more >>

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